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Published: Sat, February 11, 2017
Hi-Tech | By Lula West

NVIDIA Corporation (NVDA) Price Target Raised to $124.00 at RBC Capital Markets

NVIDIA Corporation (NVDA) Price Target Raised to $124.00 at RBC Capital Markets

According to Thomson Reuters, sell-side analysts are forecasting a harmony target price of $33.26 on company shares. NVIDIA's total debt (including current portion) was $2.779 billion.

NVIDIA exited the quarter with cash, cash equivalents and marketable securities of $6.798 billion compared with $6.67 billion in the previous quarter. Six equity analysts rating the company a strong buy, seven equity analysts rating the company a buy, twelve equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $42.00. 21 analysts projected on average Earnings. The company's price sits 12.30% above from its 50-day moving average of $108.72 and 67.95% above from the stock's 200-day moving average of $80.57. The company has a market capitalization of $64.21 billion, a price-to-earnings ratio of 60.87 and a beta of 1.31. The High end of the forecast is $0.75/share, while the Low end is $0.51/share. "A lot of people credit the work that we've done with our programmable GPUs and our GPU computing platform and the early collaboration with deep learning". The reported earnings per share topped the analyst's consensus by $0.02 with the percentage difference between estimated and actual earnings arriving at 3.40%. The company now has a Return on Equity of 26.00% and Return on Investment of 10.30%.

Revenues not only increased 55.1% year over year to $2.173 billion but also surpassed the Zacks Consensus Estimate of $2.080 billion. During the same period a year ago, the business posted $0.44 EPS. IHS Automotive predicts that the world could reach driverless vehicle ubiquity about 30 years from now - and NVIDIA is creating some of the technology right now to make that a reality.

NVIDIA Corporation (NASDAQ:NVDA) registered a -0.44% decrease, still its new closing price is 383.84% up from the company's 1 year high of 120.92.It posted 4.09% gains in previous 5 sessions and is now the subject of 13 analysts who together assign a hold rating on stock. The stock is now trading 4.21% above its SMA 50 and 6.43% above its SMA 200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

The big factor for investors will be whether or not to sell shares. The disclosure for this sale can be found here. West Oak Capital LLC now owns 1,560 shares of the computer hardware maker's stock worth $107,000 after buying an additional 1,010 shares during the period.

A number of institutional investors have recently modified their holdings of the stock. This marks the seventh consecutive quarter Nvidia beat earnings expectations.

The stock volatility for week was 2.55% while for month was 2.78%.The stock, as of last close, traded 374.74% to its 52 week low and was changed -3.75% from its 52 week high. IFC Holdings Incorporated FL raised its stake in NVIDIA Corporation by 0.9% in the third quarter.

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